Corporate Governance

Kohl’s Corp. beat analysts’ expectations for the second quarter even as its sales continued to show weakness.     The retailer posted a profit of $140 million, or 77 cents a share for the quarter ended July 30, compared with $130 million, or 66 cents a share, in the year-ago period. Excluding certain items, earnings rose to $1.22 a share from $1.07 a year ago.   Revenue fell 2% to a better-than-expected $4.18 billion. Same-store sales fell 1.8%.  

Wal-Mart Stores’ Mexican unit is shedding its apparel store chain.   Wal-Mart de Mexico SAB (Walmex) is selling its Suburbia chain to El Puerto de Liverpool SAB, one of the largest department store operators in Mexico, in a deal valued at 19 billion pesos ($1.03 billion), Bloomberg reported.  

“I'm sad to see this news. Macy's is an iconic retailer with a long history of success, and one of many victims of Amazon success. In the same week that Jeff Bezos pockets roughly $800 million personal dollars, Macy's is forced to suffer a tremendous physical retail loss.  

Macy’s Inc. announced that it will close 100 full-line namesake stores as part of a wider effort to improve its business and succeed in an omnichannel environment. The move comes after six straight quarters of declining same-store sales.      The department store giant said it plans to concentrate its resources on the best-performing locations, and to invest in those stores by adding new vendor shops, increasing the size and quality of staff and new technology.  

The back-to-school season is now in motion, kick-starting a series of peak holidays for retailers. Everything that follows is an opportunity.  

Flying Tiger Copenhagen is expanding its footprint in the United States.   Known for its quirky, fun and ever-changing assortment of Danish-designed goods, the discounter is set to open on New York City's Upper West Side on Aug. 13. The 2,000-sq.-ft. store will be the brand's fourth location in the New York area.    

Pottery Barn opened its redesigned store at South Coast Plaza in Costa Mesa, California.    The 17,293-sq.-ft. store is influenced by the Spanish Mediterranean architecture found throughout Orange County, blending traditional and contemporary elements to create a refined and relaxed environment. As part of Pottery Barn’s commitment to sustainability, the store features LED lighting to reduce energy consumption and low VOC paints to reduce toxins.  

Weis Markets on Thursday announced it has upgraded its Weis Reward Points Program to include the option of a 5% discount when customers use their Weis Preferred Shopper Club card and make a qualifying $100 purchase in a Weis Markets store. The discount can be redeemed on a customer’s future order.